Enjoy those options boys.....
Topics regarding layoffs at Newpark Resources Inc.
How many mud companies have started up
With ex NP people? I know of at least 3.
More layoffs
When, where, and how many?
Interesting comments from Newpark competitor
From CESDF q3 conference call (not sure who they were referring to, draw your own conclusion): At this point of the call, traditionally long-term followers of the company would expect a very granular operations and technical update for me. I want... — read more
Donkey BBQ Q3
$24m q3 loss for NP. Fluids contributes $19m loss with NEGATIVE 28% margins. But, but, but - we have increased market share. Amazing marketing plan NOT. Give it away and play the blame game on Hurricane season. PH AINT gotta clue.
Can you say Donkey BBQ?
Atrocious q2 earnings report.
US rig count
Bottomed our at 251........
Rig count 258
Down 5
Rig count 263
Down 2
Rig count 266
Down 13. Not good for any service company
Rig count 279
Down 5
Rig Count 284
Down 17. How low she go? I say rig count bottoms out in June at 250-275. Slim pickings for sure. Q2 numbers will be ugly folks. Reactive vs proactive management takes too long to adjust to market. What happened to all the “we can differentiate... — read more
Why does NPDF sell below cost?
That ain’t gonna stop the bleeding in US fluids boys. Negative margins are negative margins no matter how you slice it...
Rig count 374
Down 34
12.1m loss Q1
3m loss in fluids. I called it about a month ago. Too much fat on this Hawg
Rig Count 408
Down 57. Going to 250 folks...
Rig count 465
Down 64. Looking like 250 to bottom out
Rig count 529
Next stop 400. Cowboy up, this ain’t no 8 second ride
Newpark’s financial situation
Paulie claims NP is in excellent financial shape, consider the REAL facts: Newpark has $160m in long term debt $85m of the $160m is due Dec 2021 - not too far off Currently $40-50m in liquid assets. It gets worse: the $40-50m currently in... — read more
Data Privacy
For all former Newpark employees and job applicants. Newpark Resources complies with the General Data Privacy Rights legislation. You have a right to be forgotten and your personal data that they have collected be expunged from their systems unless... — read more
Rig count 664
Down 64. Next stop 400
Newpark Furloughs
Would someone confirm this. I left in 2018. I wish you all the best and good luck as we battle through this pandemic.
CONGRATS TO THE EXECUTIVE TEAM...
for bringing down NR stock to a penny stock. We can blame it on the coronavirus and the oil/gas price wars but lets be honest, there has been a disease (lets call it the PH/PV/GP virus) at the company since 2014 and it was bound to destroy what the... — read more
PR for Newpark
From a brokerage analyst who sums up what we have ALL said the past 5 years: Some stocks are best avoided. We don't wish catastrophic capital loss on anyone. Spare a thought for those who held Newpark Resources, Inc. (NYSE:NR) for five whole years... — read more
Rig Count 722 today
Buckle your seat belt folks, she’s going to 400
The 3 stages of Newpark
Stage 1: 2000-2014. The builders. Those who built the company Stage 2: 2014-2020. The PV Millenials. Those who rode it straight into the ground Stage 3: 2020- . The fools. Those who stayed and watched it sold for pennies on the dollar — read more
Reduction in Workforce
Look out for your neighbors disappearing. If Corona doesn’t get them, maybe the RIF will. Round one is top earners. Round Two performance problems. Round three Is reserved for those that crossed GP’s path. Keep your head down and your resume fresh.
Lack of confidence in NP leadership
Dow up 1,100 points, NP down 18%. Many oil stocks up
NPDF Q4 debaucle
$18.1m Q4 operating loss in fluids. -13.5% margins. Need to “right size” starting in the Woodlands. More short term debt, less assets, higher total liabilities, less stockholders equity and less cash on hand. And still carrying $43m for goodwill... — read more
NPDF Market share
Less than 5% in Permian Basin? Holey Moley
781 and $5.49
Rig count 781. Stock price $5.49. So much for the “brilliant strategizing”. Welcome to the real oilfield-Scotsman. Time to start earning your $$$
Deepwater
Three days into the new year and LGC Deepwater is already losing money. Perhaps they should hire a third field service manager.
Merry Christmas to all
Twas the days before Christmas, Not even a sound, Ole NP kept stumbling And fell straight to the ground. The reasons are many From what I have been told, Without profit in fluids We’re heading straight down a dead-end road Leave it to... — read more
Rig count 803
Down 3 for the week, down 276 for the year. Looks like whoever called 800 hit the nail on the head. NP selling $50 OBM ain’t helping margins either
Allowance for doubtful accounts
Will only get worse folks. Shale companies have finally met their match-no investor money. Pyramid scheme is effectively over. Permian will see HUGE reduction in rig count In the next 12 months. If any doubt, look at CHK. NP better closely... — read more
Another losing quarter
NP still losing $$. Fluids margin was 3.8%, not even enough to cover corporate op-ex. More excuses, Gulf not carrying their weight, blah blah blah. BUT we are positive cash flow. That’s the ONLY bright spot for PH. Oh yeah we bought a toilet... — read more
? For Paul
How are the negotiations with MI going?
The new presidents sweet deal
I truly hope anyone that has ever contributed a shred of profitability and is still left demands a raise TODAY. The new Presidents deal completely shreds any common sense left in the NP toolkit. Let’s see, you hire a guy who isn’t a US citizen nor... — read more
What will PH’s excuse be?
For the dismal Q2 numbers? Get ready, it’s coming straight at you....
Service Companies in the Permian
Are seeing a major pricing squeeze. Operators demanding huge price concessions. PB will get ugly in 2020 folks